Michael Pento

Articles by Michael Pento

On December 16th, 1773 the Sons of Liberty in Boston, in protest of the Tea Act, destroyed an entire shipment of tea sent by the East India Company, in a political protest referred to as the Boston Tea Party.

Following the Wall...
I started Pento Portfolio Strategies three years ago with the knowledge that the unprecedented level of fiat credit creation had rendered the globe debt disabled and would result in mass global sovereign default. As a consequence, there...
A popular Wall Street myth is that bear markets are caused by recessions. The contention is as long as the economy isn’t in a recession, stock prices won’t drop by more than 20 percent. And since the cheerleaders who dominate Wall Street...
As the Fed nears its proposed first rate hike in nine years the stock market is becoming frantic.  The Dow Jones Industrial Average is down around 10% on the year, as markets digest the troubling reality that our central bank may be...
Japan was recently slammed with more bad economic news; growth contracted yet again in the second quarter. Gross Domestic Product for the world’s third largest economy fell by an annualized 1.6% in the three months ended in June.

The...
In the 1947 Tennessee Williams play “A Streetcar Named Desire” as she is being carted off to the mental institution Blanche Dubois utters these famous words …“I have always depended on the kindness of strangers.”

And like Ms. Dubois,...
The Chinese stock market recently saw its biggest selloff in 8 years as the dramatic 8.5% fall in Shanghai

“A” shares also rattled markets around the world.

For the past few weeks China has been balancing its desire to keep the...
One of the most ironic and fascinating characteristics about an asset bubble is that central banks claim they can’t recognize one until after it bursts. And Wall Street apologists tend to ignore the manifestation of bubbles because the...
China's four-week-long stock market rout wiped out nearly 30% off the Shanghai Composite Index since its highs of June. To stem those losses the Chinese government has formulated an interesting hypothesis: stocks won’t go down if you ban...
In the midst of an intense global economic slowdown that began in 2008, China’s economy amazingly appeared to be unaffected. Defying the world-wide real estate collapse, China’s GDP grew by an impressive 8.7% in 2009. Fueled initially by a...

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During 1500s the Spaniards had taken 16,000,000 kilograms of silver from Peru.